Bid expected by Bushells
NZPA Sydney A British company may make a take-over bid for Bushells Investments, Ltd, Australia’s biggest company in the tea and coffee market, according to industry sources. Bushells advised shareholders on Wednesday not to sell their shares after it announced that “a number of shareholders who together hold a major interest in the company have entered into discussions for the sale of their interests.” Industry sources said Brook Bond Liebig, Ltd, of the United Kingdom, the world’s largest tea company, was the likely party interested in obtaining a larger share in Bushells. Brook Bond has a 20 per cent interest in Bushells Proprietary, Ltd, the working subsidiary of Bushells Investments. The Brook Bond directors in Britain declined to comment on their interest in Bushells. An executive director and substantial shareholder in Bushells, Mr Anthony Oxley said: “It is very early in the negotiations, we are hoping we can make another announcement fairly soon.”
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Press, 23 June 1978, Page 11
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157Bid expected by Bushells Press, 23 June 1978, Page 11
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